Chapter 45
It was now the month of May in the year 1998 and the office was very quiet. All I could hear was Jamie sharpening her pencil loudly. She continued reporting on the purchases of commercial buildings, factory sites, construction companies, apartment complexes, hotels and resorts while marking important areas with her pencil. Jeon-il had bought a number of bargain-basement properties from major companies.
“The current profit is only from rent, but we are confident that Korea will overcome the IMF crisis and the properties we’ve gathered so far will give Ethan’s clients astronomical profits,” Jamie said.
No one else could want Korea to repay the IMF loans as much as Jamie did. She had gained the authority to impact the country’s political and business field at a young age. She now realized the power Daehoo had in Korea after acquiring the group, and it was natural that she wouldn’t let it go. She seemed willing to even risk her life to keep it.
Jamie’s clothes were now getting shorter and gaudier. Her dress today was so short that it barely covered her thighs and showed her cleavage even without bending down. Also, she “accidentally” touched my legs as she crossed her own. It looked like she wanted to have a private relationship with me.
When our eyes met, she pretended to demurely avoid my gaze, and she thought that seducing a young Asian guy would be a piece of cake. I just laughed silently.
I asked, “The group accounts should be pretty empty, right?”.
Jamie must have been waiting for me to speak.
“Our competitors think that we’re giving up some items, but the reality is different. Ethan, you’re right. The piggy bank is quite empty, so we should only focus on achieving some desirable items from now on,” Jamie admitted.
“What do you want the most?” I questioned.
“Korea is having a huge bargain sale that will never come again. Golden opportunities are everywhere, so it’s hard to choose one. But if I still have to make a decision…”
Jamie’s eyes were filled with a strange glint.
“Ilsung Electronics’ semiconductor business, Xia Motors, and Daehyun Motors. If I can, I’d like to take over more, but these three are the minimum,” she said.
“Who are you consulting with?”
“The East Asian Economic Research Institute. It’s a reliable place, and I’m planning to buy a consulting firm…Is there a problem?” She questioned.
Not at all.?I shook my head, and Jamie continued.
“The consultant said Ilsung Electronics’ semiconductors have a high potential for success in the future. On the contrary, she said Daehyun Electronics’ semiconductors will fail and damage their group to the core.”
“You must have researched a lot. How’s work?” I asked.
She smiled. “Korea is a paradise.”
Then, she came up with a proposal to merge Daeho, Daehyun and Xia Motors.
“You’ve already contacted the three groups. What was the result?” I questioned.
I could guess her answer by looking at her eyes full of greed. She must have put effort into it but had failed. It was inevitable.
“There’s no way to get the core businesses. Ilsung and Daehyun have complicated their shared systems, and my accounting advisors all start by shaking their heads whenever they hear about them. Well, of course. Ethan, how interested are your clients in the Korean market?”
Jamie was proposing to shake Ilsung and Daehyun like we had Daehoo.
I replied, “I know what you’re thinking, but we should put it off for now.”
“This chance will never come again. Can’t you convince your clients? You’ll regret once this country overcomes the IMF crisis,” she responded.
“They’ve already invested twenty-five billion dollars,” I responded.
She answered in a wheedling tone, “I need that much more.”
Twenty-five billion shouldn’t be an amount that she could throw out that easily.
“...”
“You know that the limits for foreign stock ownership have been lifted,” she continued.
“Is that why you’re after Daehyun and Ilsung? Jamie, the Korean government won’t let Daehyun, Ilsung and Daehoo merge into one group, and they will strike at us with the heavy artillery if they see us try. They’re already using public funds to bail out Daehyun and Ilsung,” I said.
“But it’s the IMF, Ethan,” she responded.
I looked into her eyes. “Yes, it’s fucking IMF. Do I need to explain again?”
“...”
“Merging three major conglomerates is a greater threat than the IMF crisis, not only to the government, but also to the civilians. In addition, all three owned by a foreign firm? That’ll be much more serious,” I said.
“I’m confused. Don’t you have to speak for your clients?” She frowned.
I replied, “I’m saying that we should maintain our current relationship with the government.”
Jamie must have thought that Daehoo had collapsed under our lobby, but that was wrong. All I did was speed things up, and the factors that led to Daehoo’s ruin had already existed. In Korea, conglomerates like Daehoo couldn’t be attacked unless they fell by themselves, since they would unify under an external threat.
“You are saying the same things as our board members. If you also say it, that means I’m wrong. I’ll change my plans,” Jamie said after thinking quickly.
“The real estate purchases are as expected. That’s good,” I responded.
She replied, “I’m just disappointed that I can’t gobble up the rest since I’m too full.”
“You’ll be able to digest them around September,” I answered.
Jamie’s face brightened. “Are the investors planning on additional funds?”
“We must convince them,” I said.
The expression on her face clearly said that I should’ve done it earlier.
“It’s good that you are greedy but anxious at the same time if you’re confident that Korea will overcome the IMF crisis. I agree with that, and I’ll use this point to persuade my clients,” I responded.
While the dollar ruled Korea for now, the situation would change after the IMF. The country’s authority would move from the dollar to the conglomerates.
“I refused it for practical reasons, but the conglomerates in Korea would be the most delicious dishes.”
Jamie nodded vehemently.
“But let’s not rush through this. This country’s financial crisis has just begun, and they need to be baked more. How much do we have left?” I questioned.
“A little over a billion dollars.”
She handed me a summary. According to it, out of the twenty-five billion, ten billion had been spent to purchase Daehoo, and fourteen billion to buy real estate.
“Have you talked with the government about the delay in restructuring Daehoo?” I asked.
Jamie spoke ambiguously, “It was done on a condition that things won’t start until April. Instead, twenty-five billion dollars has been…”
She was struggling to describe how Korea had laundered twenty-five billion dollars for us.
“Well, the delay is enough for the money laundering fees, and that much was necessary to make sure no issues occur in the future,” I said.
“Ethan!”
She jumped and rolled her eyes, but all she could see were the paintings and workout equipment. This was perfect timing as both the ruling and opposition parties were complicit in laundering the funds for me.
“The government of this country is the one with weakness, not us,” I explained.
“Well…I suppose so,” she answered.
“My clients’ money came through the Caymans and the Netherlands,” I said.
There was nothing to hide since Jamie knew about it. The five firms that owned Jeon-il were based in those areas. It was then Jamie’s face turned dark as she seemed to realize something.
“...!”
Her fox-like smile that tried to allure me disappeared instantly. Instead, she glanced at me suspiciously. Surprisingly, she was ignorant about some things. Did she just realize what she had come into?
I blandly said, “You just have to focus on your performance, Jamie. The rest is my business.”
I knew that my words would make Jamie more afraid of my non-existent clients and me, but I looked straight into her eyes. She laughed, but it was awkward. At the same time, her eyes were on the corner of the room. I followed her gaze and turned away. There was a sword I had practiced swinging before she came.
The sword didn’t shine, but only the peculiar vibe existed since it was a real blade. She had enjoyed looking at it, saying that the oriental culture was the best. However, she seemed to be scared now. Was she imagining being beheaded by that thing when a problem came up? With a large shadow coming through the darkness as a background?
However, she would also know that she had come too far to step out. Above all, she wouldn’t want to, even if she had to risk everything.
“What, do you want to swing it?” I asked as if nothing had happened.
Jamie’s gaze quickly returned to my face.
“No. Well, what were we talking about?” she questioned.
“Let’s focus on the additional funding in September. And...” I said.
“Yes,” she replied.
“About the special purchases. Everything went well except for the two cases that are on hold. As I’ve emphasized many times, special purchases should be prioritized,” I continued.
“I know. I’ve been negotiating with them, so there’ll be good news soon,” she answered.
“Then, let’s call it a day. I think I’ve heard everything I need to know.”
She was about to open the door when she suddenly stopped at the doorknob. She turned around with a smile after a second.
“Did you call me?” she asked.
Of course not.
“It’s late. Get home safe. And—” I said.
“Yes?” Her eyes widened.
“...Nothing. Have a good night,” I continued.
***
I phoned Jonathan after Jamie left, and he answered in a half-asleep voice.
<Jonathan: Sun, the publication date has been set.>
<Seon-Hu: It’s not about that. You have the ledgers, right?>
<Jonathan: Yeah, of course. Did something happen?>
<Seon-Hu: Nothing. Where did you store it?>
<Jonathan: In a safe deposit box at the Morgan Bank.>
<Seon-Hu: They won’t lose it, then. I sent you an email three hours ago.>
<Jonathan: Wait a minute.>
After Jonathan turned on his computer and checked my email, I heard his surprised voice from the phone.
<Jonathan: You said everything was fine!>
<Seon-Hu: You never know what will happen.>
<Jonathan: Sun, what’s wrong with you? …You're giving me the chills. Well, it should’ve been prepared a long time ago. However, you need to bring in attorneys specializing in inheritance to make this official. Is that okay? You hate exposing yourself.>
<Seon-Hu: If my identity is exposed, it means I am already dead, so... it doesn’t matter.>
<Jonathan: Well, your heirs must be your parents, right?>
<Seon-Hu: Yes.>
<Jonathan: Is there something going on? Are you sure? Why are you acting like you’re about to be shipped off to war? You're making me worried.>
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